One-year-old agri-tech startup FreshVnF raises $2 million in maiden round
FreshVnF, a Mumbai-based agri-tech startup founded in 2018, has raised $2 million in a funding round led by Equanimity Ventures. Ahmedabad-based GVFL (Gujarat Venture Finance Limited) and non- executive Vice Chairman of Asian Paints Limited Manish Choksi, through his family office, also participated in the round.
FreshVnF uses machine learning (ML) to connect farmers with HoReCa (hotels, restaurants, and cafes) thereby enabling an optimised farm-to-fork supply chain. One can order and procure fresh fruits and vegetables online with the data-driven inventory and replenishment platform.
Founded by Atul Kumar, Vikas Dosala, Sumit Rai, and Aashish Krishnatre, FreshVnF claims it delivers more than 15 tons of fresh produce per day to more than 300 clients. They are now looking to grow this to more than 5,000 clients and 100 tons of produce per day within a year.
Commenting on the investment, Rajesh Sehgal, Managing Partner at Equanimity Ventures said in a press release, “Supplying fresh fruits and vegetables from farm to fork has been a challenge for years. FreshVnF is changing this by leveraging new age technology, current mobile penetration and availability of cheap data to build an efficient supply chain helping reduce wastage and simultaneously ensuring fresh produce reaches your plate.”
Equanimity has earlier funded retail technology company PeelWorks, online events booking platform Bookeventz, online parenting platform BabyChakra, investment app Sqrrl, Baby monitoring product RayBaby and medical supplies marketplace DrStore.
In the press statement, Atul Kumar, co-founder of FreshVnF, said the new funds will be used to grow their farm network for consistent supplies, as well as build their technology platform for seamless supply chain operations at scale. The startup’s aim is to provide fresh farm produce to the end customer within 16 hours of harvesting. “FreshVnF will work aggressively to increase its retail footprint and service over one lakh retail customers in western India,” he added.